Financials ABB Ltd Nasdaq Stockholm

Equities

ABB

CH0012221716

Heavy Electrical Equipment

Market Closed - Nasdaq Stockholm Other stock markets 08:59:49 02/05/2024 pm IST			5-day change	1st Jan Change
537.8 ^SEK	-1.18%		+1.70%	+20.77%

05:46pm	ABB: opens electrical enclosures plant in Belgium	CF
02:13pm	ABB LTD : Goldman Sachs keeps its Buy rating	ZD

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	51,425	57,669	76,061	56,623	81,660	90,889	-	-
Enterprise Value (EV) ¹	56,374	57,781	75,963	59,402	83,651	91,859	89,651	87,132
P/E ratio	36 x	11.5 x	17 x	23.3 x	22 x	23.1 x	21.1 x	19.6 x
Yield	3.42%	3.16%	2.34%	2.77%	2.29%	1.98%	2.14%	2.21%
Capitalization / Revenue	1.84 x	2.21 x	2.63 x	1.92 x	2.53 x	2.71 x	2.57 x	2.43 x
EV / Revenue	2.01 x	2.21 x	2.62 x	2.02 x	2.6 x	2.74 x	2.54 x	2.33 x
EV / EBITDA	19.4 x	23 x	11.5 x	14.3 x	14.8 x	14.7 x	13 x	11.8 x
EV / FCF	37.7 x	57.8 x	30.3 x	113 x	23.8 x	24.9 x	22.8 x	20.5 x
FCF Yield	2.65%	1.73%	3.3%	0.88%	4.21%	4.02%	4.38%	4.89%
Price to Book	3.8 x	3.63 x	4.8 x	4.43 x	6.09 x	6.16 x	5.35 x	4.66 x
Nbr of stocks (in thousands)	21,32,868	20,58,789	19,92,148	18,66,376	18,42,990	18,49,068	-	-
Reference price ²	24.11	28.01	38.18	30.34	44.31	48.97	48.97	48.97
Announcement Date	05/02/20	04/02/21	03/02/22	02/02/23	01/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	27,978	26,134	28,945	29,446	32,235	33,498	35,334	37,343
EBITDA ¹	2,899	2,508	6,611	4,151	5,651	6,254	6,878	7,379
EBIT ¹	1,938	1,593	5,718	3,337	4,871	5,414	5,900	6,297
Operating Margin	6.93%	6.1%	19.75%	11.33%	15.11%	16.16%	16.7%	16.86%
Earnings before Tax (EBT) ¹	1,862	841	5,787	3,394	4,778	5,338	5,816	6,220
Net income ¹	1,439	5,146	4,546	2,475	3,745	3,943	4,309	4,630
Net margin	5.14%	19.69%	15.71%	8.41%	11.62%	11.77%	12.2%	12.4%
EPS ²	0.6700	2.440	2.250	1.300	2.010	2.122	2.320	2.498
Free Cash Flow ¹	1,495	999	2,510	525	3,520	3,695	3,925	4,259
FCF margin	5.34%	3.82%	8.67%	1.78%	10.92%	11.03%	11.11%	11.4%
FCF Conversion (EBITDA)	51.57%	39.83%	37.97%	12.65%	62.29%	59.09%	57.07%	57.71%
FCF Conversion (Net income)	103.89%	19.41%	55.21%	21.21%	93.99%	93.71%	91.09%	91.97%
Dividend per Share ²	0.8246	0.8857	0.8934	0.8400	1.013	0.9702	1.048	1.082
Announcement Date	05/02/20	04/02/21	03/02/22	02/02/23	01/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	7,567	6,965	7,251	7,406	7,824	7,859	8,163	7,968	8,245	7,870	8,453	8,443	8,775	8,512	8,976
EBITDA ¹	3,191	1,067	794	906	1,384	1,389	1,494	1,453	1,315	1,418	1,545	1,563	1,570	1,752	1,752
EBIT ¹	2,975	857	587	708	1,185	1,198	1,298	1,259	1,116	1,217	1,416	1,448	1,426	1,557	1,557
Operating Margin	39.32%	12.3%	8.1%	9.56%	15.15%	15.24%	15.9%	15.8%	13.54%	15.46%	16.75%	17.15%	16.25%	18.29%	17.35%
Earnings before Tax (EBT) ¹	2,985	884	599	714	1,197	1,184	1,281	1,231	1,082	1,253	1,364	1,393	1,411	1,524	1,587
Net income ¹	2,640	604	379	360	1,132	1,036	906	882	921	905	1,029	1,057	1,053	1,123	1,171
Net margin	34.89%	8.67%	5.23%	4.86%	14.47%	13.18%	11.1%	11.07%	11.17%	11.5%	12.18%	12.52%	12%	13.19%	13.04%
EPS ²	1.330	0.3100	0.2000	0.1900	0.6000	0.5500	0.4800	0.4700	0.5000	0.4900	0.5600	0.5785	0.6005	-	-
Dividend per Share ²	0.8934	-	-	-	0.8400	-	-	-	0.9784	-	-	-	1.137	-	-
Announcement Date	03/02/22	21/04/22	21/07/22	20/10/22	02/02/23	25/04/23	20/07/23	18/10/23	01/02/24	18/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	4,949	112	-	2,779	1,991	969	-	-
Net Cash position ¹	-	-	98	-	-	-	1,238	3,757
Leverage (Debt/EBITDA)	1.707 x	0.0447 x	-	0.6695 x	0.3523 x	0.155 x	-	-
Free Cash Flow ¹	1,495	999	2,510	525	3,520	3,695	3,925	4,259
ROE (net income / shareholders' equity)	19.3%	14.2%	29.1%	23.3%	28.6%	28.7%	28%	26.1%
ROA (Net income/ Total Assets)	3.18%	11.8%	11.2%	6.23%	9.35%	9.5%	10.2%	10.3%
Assets ¹	45,274	43,598	40,674	39,702	40,044	41,503	42,324	44,938
Book Value Per Share ²	6.340	7.720	7.960	6.850	7.280	7.960	9.160	10.50
Cash Flow per Share ²	1.090	0.8000	1.650	0.6700	2.300	2.670	2.740	2.990
Capex ¹	762	694	820	762	770	873	905	943
Capex / Sales	2.72%	2.66%	2.83%	2.59%	2.39%	2.61%	2.56%	2.53%
Announcement Date	05/02/20	04/02/21	03/02/22	02/02/23	01/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ABB Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

48.97 USD

Average target price

45.86 USD

Spread / Average Target

-6.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Heavy Electrical Equipment

	1st Jan change	Capi.
SIEMENS LIMITED	+45.89%	24.92B
ABB INDIA LIMITED	+42.91%	16.61B
CG POWER AND INDUSTRIAL SOLUTIONS LIMITED	+20.83%	10.14B
SHANGHAI ELECTRIC GROUP COMPANY LIMITED	-7.36%	8.13B
DOOSAN ENERBILITY CO., LTD.	+5.66%	7.78B
ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.	+28.70%	7.68B
FORTUNE ELECTRIC CO., LTD.	+159.02%	6.79B
CHINA XD ELECTRIC CO., LTD	+43.41%	5.01B
SHIHLIN ELECTRIC & ENGINEERING CORP.	+146.41%	4.67B

Other Heavy Electrical Equipment